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DBA CLASS ASSIGNMENT ONE Q. L. Jn 2013 Terry Brady, the legendary athlete from Indiana, decided to leave his job as head football coach at Mattoon High School to open Brady Advantage, his own sporting goods store, in Terre Haute. By locating Brady Advantage halfway between St. Louis and Indianapolis, Brady -hoped to attract customers from both large metropolitan markets. A partial income statement for Brady Advantage follows: 2013 Revenues Revenue from sales of goods and services $210,000 Operating costs and expenses: Cost of products and services sold $82,000 Selling expenses S6,000 Administrative expenses. SI2.000 Total operating costs and expenses --- $100,000 Income from operations $110,000 Interest expense (bank loan) $14,000 Non-recurring expenses to start business $8,000 Income taxes S16,000 Net income $72.000 Terry Bldy's coaching job at Mattoon High paid $45.000 of annual salary and benefits. To get the sporting goods store opened, Brady used $50,000 of his personal savings, which was earning a guaranteed 12 percent annual rate of return. Brady opened his store in a building that he owned in Terre Haute. Prior to opening his store, the building was rented for $24,000 per year. a. In 2013, Brady Advantage incurs of total explicit costs for using market-supplied resources. b. In 2013, the opportunity cost of Brady's equity capital is s c. The total implicit cost of using owner-supplied resources in 2013 is $ d. The total opportunity cost of resources used by Brady Advantage in 2013 is. The total economic cost in 2013 is $ e. The accounting profit for Brady Advantage in 2013 is $ 1. Based on his profit in 2013, did Tetry Brady increase his wealth by quitting his job at Mattoon High and opening Brady Advantage? Explain your answer carefully. [Hint: Comnnte economic orofit in 20131